how we will account the preliminary expenses in journal and
ledger as well as balance sheet?
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Answer Posted / vijaya kumar
Journal : If you wish to written off your Preliminary
expenses
preliminary Exp A/c Dr. 1000
To Cash / Bank 1000
( Being Preliminary expenses written off rs 1000)
Ledger : you should have show the written off amount rs
1000 in debit side of P & L A/c
Balance Sheet : You Should have Asset side under the head
of Miscellaneous Expenditure - preliminary Exp. Written of
rs 1000
Otherwise if you not written off any amount during the
year, you should have only show the opening balance of
amount in assets siede
S. Vijaya Kumar M.Com
| Is This Answer Correct ? | 18 Yes | 8 No |
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